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May 21, 2009

House of the Day: 169 State Street

This legal two-family house at 169 State Street in Brooklyn Heights has been used as a single-family for the past half-century, which appears to be how long it's been in the same family. The house has a nice historic vibe to it (we particularly like the center stair) but we suspect, based on the lack of bathroom and kitchen photos and reference in the listing to the house "having potential", that whoever buys this place will likely have to invest some money in upgrading it. The asking price is $2,995,000, which isn't crazy for this location, but may be too much if there's a lot of work that needs to be done.
169 State Street [Stribling] GMAP P*Shark

Note: Techies are still working on fixing the pricing widget.

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Not bad. But I don't love the featureless walls, windows, baseboard heat. Nor bathrooms and closets jutting into bedrooms.

Posted by: mopar at May 21, 2009 1:29 PM

This looks like a perfect example of a Brooklyn brownstone residence to me. classic layout, excellent location, great condition. what's not to like? I think the price makes sense. I particularly like the stair.

Posted by: sam at May 21, 2009 2:39 PM

i love the layout, also love the stairs. wish it could be mine...

Posted by: bkny at May 21, 2009 2:56 PM

It's a narrow, shallow, building. Probably not more than 19 feet wide (but it might be as narrow as 17). I'd say 35 feet deep.

$3 million might "not be crazy for this location" but I think it's pretty crazy for a sub-20 foot wide building.

Besides, the location isn't all that great. It's just off Court St, right across from the movie theater. Probably the least appealing half block of Brooklyn Heights from a "$3 million brownstone single family" perspective.

Posted by: christopher at May 21, 2009 3:13 PM

bkny, I agree. The house is really great. Who cares about remodeling the kitchen and the baths? It's the bones and the location that matter. I hope whoever buys it doesn't mess it up. the beauty of these houses is in their simplicity.

Posted by: sam at May 21, 2009 3:13 PM

I love posting that try to convince people that a given house is in the "bad part" of Brooklyn Heights.

Posted by: sam at May 21, 2009 3:21 PM

sam, i am so with you on that. i am in the heights pretty much everyday and it's all good - all over.

Posted by: bkny at May 21, 2009 3:33 PM

The house is a little shallow, but this is the first time I have seen a true center stair case on a house wider than fifteen feet -- so that opens up the house a lot.

The biggest drawback is going to be the noise from crowds leaving the movie theater after midnight, and the fact that this north facing garden will get no sunlight except in the late afternoon maybe.

However, I disagree that this is the worst half block in Brookyln Heights -- Remsen and Joralemon off Court are much less appealing.

As to price, the house a couple down sold for $1.8 or so back in 2005 -- if you believe that prices shoul be not too far away from 2005 today, then this house is seriously overpriced.

Posted by: Boerumresident at May 21, 2009 5:09 PM

I've seen some 26 footers on Clinton with a lot more space go for 3, and they were crazily priced.

This is an 18 footer. I've visited 5 on that block.

The last sales were usually low 2.0 range; penson sold a bunch of beaten up R/S ones for around 800 each last year.

Rents for each apt would be perhaps 4-4.5?

Call me in at least a million bucks off.

Posted by: thwackamole1 at May 21, 2009 5:31 PM

magnifique

i love it

not too big, not too small, pure and simple and elegant.

if you don't like this house, you don't like brownstone brooklyn.

and it's in brooklyn heights!!!! be still my heart.....

Posted by: mcKenzie at May 21, 2009 6:49 PM

Sam --
Usually I am too late to post and you may not read this either. I appreciate the education you bring to this blog. Don't know what is your profession, but you know the practical (financial, etc), historical, as well as artistic aspects (plus neighborhoods). Thank you for your willingness to educate via this blog -- your posts are on target and I am sure, helpful to many.

Posted by: BklynSoFar at May 21, 2009 6:59 PM

thank you Bklynsofar, that is very nice, i appreciate it.

i have been around the block a bit.
in fact one of the reasons that i regret not being able to attend biff's parties is because i can't risk blowing my cover as "sam".

Posted by: sam at May 21, 2009 8:20 PM

Sam,
I'm an a 3rd generation BH'er, so when I speak about the neighborhood I speak with pride and love as well as perspective and experience.

Boreumresident mentioned Remsen and Joralemon as less ideal blocks off Court. Of course they are less appealing, however Remsen and Joralemon have no brownstones listed at $3 million just off of Court St. Remsen and Joralemon between Court and Clinton are not specifically residential (in fact they have very little residential) anyway.

My point being that out of all the buildings and all the blocks of Brooklyn Heights this tiny, narrow brownstone on a noisy, high traffic corner asking $3 million is not the same as a Cranberry St building off the same specs and asking.

Posted by: christopher at May 21, 2009 10:05 PM

Again, we have the same complaints. This house is not narrow inside. The center staircase makes for a wonderful floor plan. I suggest the naysayers have a look and see how "unnarrow" a 17x 17 bedroom feels. I really love the layout of this house, but it does seem to be lacking in some moldings, etc. Still, it has a very nice, classic feeling. I don't know about that particular corner, but I have looked at other houses on State that were definitely asking more than 3 million.

Posted by: homey at May 22, 2009 12:16 AM

The 20' wide, 5 story, corner building with 2 parking spaces on the corner of State and Clinton went for $3 million recently. It's a bigger building on a corner lot with parking, etc...

My point is I don't see $3 million for this small 2 family when there are bigger buildings in the area going for $3 or less.

Posted by: christopher at May 22, 2009 10:29 AM

Well, 176 State sold fro 3, 850,000 in Jan 2009 and it is only 3,300 square feet. I can't find the listing you are referring to, but I think this house is competitively priced for Brooklyn Heights.

Posted by: homey at May 22, 2009 1:53 PM

The biggest drawback might be living in the shadow of the Court Street theater, and being near the least desirable section of Court Street (between Joralemon and Schermerhorn).

The house itself has no faults that I can see. As someone who isn't adverse to being able to rent out part of a house (usually the garden floor), I'm not the world's biggest fan of the garden unit having the kitchen, but its all very nice looking. I think the price is fair, or close, maybe 2.5 at the low end. I don't have a good read on how much prices have come down in Brooklyn Heights.

Posted by: thetycoon at June 2, 2009 5:08 PM

« Condo of the Day: 555 Washington Avenue, #1A StreetLevel: Flight 001 Leaving the Slope »

May 21, 2009

House of the Day: 169 State Street

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